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Cable Update (GBPUSD)

  • #131,081
  • May 4, 2009 9:09pm May 4, 2009 9:09pm
Quoting yanzsukechi
guys, will down again? or it will rise up this time?
Hard to tell. I am short from 5030, so I would like it to go down
  • #131,082
  • May 4, 2009 9:11pm May 4, 2009 9:11pm
Looking for a Positive Reversal on the RSI as shown on the chart with a rebound to the upside, 151.
Paul
http://www.youlearnforex.com
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 050409e.jpg Size: 150 KB
  • #131,083
  • May 4, 2009 9:40pm May 4, 2009 9:40pm
Quoting pdean123
Looking for a Positive Reversal on the RSI as shown on the chart with a rebound to the upside, 151.
Paul
http://www.youlearnforex.com

i see H&S-ish stuff on hourly........
  • #131,084
  • May 4, 2009 9:54pm May 4, 2009 9:54pm
Quoting smartalicus
i see H&S-ish stuff on hourly........
Hmm interesting - would test 1.507-1.509 before turning according to your theory.
  • #131,085
  • May 4, 2009 9:57pm May 4, 2009 9:57pm
Quoting smartalicus
i see H&S-ish stuff on hourly........
Can you show the chart to me please ? I' don't know about H&S-ish ? and effect about H&S-ish..

thanks
  • #131,086
  • May 4, 2009 10:28pm May 4, 2009 10:28pm
A lower high and a lower low on the Hourly chart.

Still short from 5030.
  • #131,087
  • May 4, 2009 10:59pm May 4, 2009 10:59pm
Quoting yanzsukechi
guys, will down again? or it will rise up this time?
[email protected]
  • #131,088
  • May 4, 2009 10:59pm May 4, 2009 10:59pm
im Seling GBP/USD now

see in chart candle touch upper channel and going back
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.GIF Size: 39 KB
  • #131,089
  • May 4, 2009 11:02pm May 4, 2009 11:02pm
what you think friends ?
  • #131,090
  • May 4, 2009 11:05pm May 4, 2009 11:05pm
Quoting Richalok
what you think friends ?
Looks good. Put a stop in above 5030.
  • #131,091
  • May 4, 2009 11:08pm May 4, 2009 11:08pm
ok thanks friend for the tell.......
  • #131,092
  • May 4, 2009 11:11pm May 4, 2009 11:11pm
Whats the target in your view ??
  • #131,093
  • May 4, 2009 11:46pm May 4, 2009 11:46pm
i think its a down trend now
- Always pray on your trading - God know the best for everyone
  • #131,094
  • May 4, 2009 11:46pm May 4, 2009 11:46pm
Guys,

It is very painful how this thread has deteriorated to most posters doing a guess work while others look for trade calls. Now I see why they say that 99% or is it 95% of traders lose money.

Take for instance the GU. From every technical point its obvious that the pair is in an uptrend. You don't need a prophet to tell you that. Check the higher TF charts. There will be retrace here and there but the question is what is the big picture? I have learnt over time that you cannot beat the market to go where you want. I suppose we should get back to the charts and look properly and get back to posting educating and helpful insights and analysis and not what we want the market to do.

Hope I have not offended anyone.

My two cents
  • #131,095
  • May 4, 2009 11:49pm May 4, 2009 11:49pm
Quoting trustGod1234
Guys,

It is very painful how this thread has deteriorated to most posters doing a guess work while others look for trade calls. Now I see why they say that 99% or is it 95% of traders lose money.

Take for instance the GU. From every technical point its obvious that the pair is in an uptrend. You don't need a prophet to tell you that. Check the higher TF charts. There will be retrace here and there but the question is what is the big picture? I have learnt over time that you cannot beat the market to go where you want. I suppose we should get...
A lot of the old traders or knowledgeable traders have moved on becuase of this...I wonder where they went.. I'd like to go!
  • #131,096
  • May 4, 2009 11:50pm May 4, 2009 11:50pm
Quoting trustGod1234
Guys,

It is very painful how this thread has deteriorated...
Oh please stop your ahangar words......
  • #131,097
  • May 5, 2009 12:07am May 5, 2009 12:07am
im not guessing im using TF 15, and yes its downtrend (after i posted that)
i should mention my TF in my next post i think
(and myself doing short transaction, not typical person shooting for 100 or 200 pips)
- Always pray on your trading - God know the best for everyone
  • #131,098
  • May 5, 2009 12:16am May 5, 2009 12:16am
  •  Ronin77
  • | Joined Dec 2008 | Status: เงินกินเปล่า | 95 Posts
Quoting trustGod1234
Guys,

It is very painful how this thread has deteriorated to most posters doing a guess work while others look for trade calls. Now I see why they say that 99% or is it 95% of traders lose money.

Take for instance the GU. From every technical point its obvious that the pair is in an uptrend. You don't need a prophet to tell you that. Check the higher TF charts. There will be retrace here and there but the question is what is the big picture? I have learnt over time that you cannot beat the market to go where you want. I suppose we should get...

This is an uptrend? hmmm am i missing something?
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 170 KB
Ronin77
  • #131,099
  • May 5, 2009 12:19am May 5, 2009 12:19am
Its a clear downtrned man
  • #131,100
  • May 5, 2009 12:22am May 5, 2009 12:22am
Quoting Ronin77
This is an uptrend? hmmm am i missing something?
Yess based on recent highs and lows on the daily, GBPUSD is in an uptrend...

We have now made a double top at 5030/60 so it can go anywhere from here.

My definintion of trend comes from the Hourly and 15-min timeframe. I am not here to open a position and try to get long term 2000 pips.

I am here to trade, and right now we are in a downtrend based on the hourly and hence I am short.
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